All posts tagged millionaires

When it comes to producing millionaires, the U.S. still leads the pack.

Between July 2013 and July 2014, the ranks of Americans with a net worth exceeding $1 million grew by 1.63 million, or more than one-third of the 3.84 million adults worldwide who saw their net worth exceed $1 million over that span, according to a new report on global wealth from Credit Suisse. Overall, the U.S. was home to around 14.2 millionaires, or more than 40% of those in the world. Read More »

While India is home to some of the poorest communities in the world it is also home to thousands of new dollar millionaires. The number of people in the south Asian nation worth at least seven figures grew to 248,000 last year, according to a report this week by WealthInsight, a company which tracks the world’s rich. That is up from 193,000 millionaires in 2009, the report said. Read More »

Despite slowing economic growth and a plunging rupee, Mother India gave birth to more than 20,000 new dollar millionaires in the last year, outpacing most countries in the number of new people who now need seven figures to count their wealth. Read More »

India’s finance minister has said a new tax on individuals with annual incomes of more than $183,000 would affect only 42,800 people. That seems awfully low in a country with so many dollar millionaires. Read More »

The ranks of India’s super-rich are estimated to have grown by 30% to around 81,000 in 2011-12, according to a new study. In fact, many of them interviewed for the study gave exactly the response that we used in the headline when asked how they were faring. Read More »

India’s slowing economy and a falling stock market have taken a hit on the country’s richest.

A new global study carried out by consultancy Capgemini and RBC Wealth Management revealed that in 2011 the number of millionaires in India dropped 18% from the previous year to around 125,500. Read More »

More millionaires mean more demand for high-end property, like these luxury apartment towers being constructed in Mumbai.

India had 153,000 millionaires at the end of 2010, putting it in 12th position in a list of countries with the most millionaires, according to a report released this week by Capgemini and Merrill Lynch Wealth Management. In the year earlier report, India ranked 14th.

The U.S. still has the most millionaires at around three million and China ranks fourth with 535,000 millionaires. Japan is in second and Germany is third, according to the report. Read More »

Many of Mumbai’s millionaires are moving north, as flood of posh new apartment complexes attracts them out of the neighborhoods in the south of the city full of old buildings and old money.

Nearly 3,500 luxury apartments priced at $1 million or more are under construction in Mumbai, estimates real estate consulting firm Jones Lang LaSalle. That includes duplexes, penthouses and four bedroom apartments, ranging from 2,000 to 10,000 square feet. Read More »

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